January 27, 2010
Bank of Canada Confirms Expiration of Temporary Swap Facility with U.S. Federal Reserve
In coordination with other central banks, the Bank of Canada confirms the expiration of its US $30 billion swap facility with the Federal Reserve on 1 February 2010. This facility, which was established to counter pressures in global funding markets, is no longer needed, given the improvements in financial market functioning seen over the past year.